This bank raises Rs 487 crore through private placement of Tier II bonds.
Options
A. Kotak Mahindra Bank
B. Indian Overseas Bank
C. Karur Vysya Bank
D. Federal Bank
Correct Answer
Karur Vysya Bank
Explanation
Karur Vysya Bank announced that it has raised Rs 487 crore through Basel-III compliant bonds for funding its growth plans. The decision was taken in the Capital Raising Committee of the board. The committee allotted 48,700 BASEL-III compliant unsecured, redeemable, non-convertible tier-II bonds of Rs 1,00,000 each, totalling to Rs 487 crore and the capital raising was done on private placement basis. The instrument will be listed on NSE.
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